"I feel that it's possible to say that the most acute stage has passed, and we're facing recovery and a return to growth."
"I am not sure that we can say for certain that the crisis is behind us, but I feel that it's possible to say that the most acute stage has passed, and we're facing recovery and a return to growth," said Israel Chemicals Ltd. (TASE: ICL) president and CEO Akiva Mozes. He made the comment in a speech of Association of Publicly Traded Companies in Israel, where he serves as chairman.
Mozes praised Israel's regulators and financial institutions, whom he said were responsible for the global crisis's limited impact on Israel.
"Many countries in the world are still in the midst of a recession to some degree, and in this aspect, it's possible say with assurance that the effect of the crisis in Israel was limited. Thanks to the soundness of the business and financial sectors, sagacious policies by the Bank of Israel, Ministry of Finance, the Israel Securities Authority, and other regulators, we got through the economic crisis with only limited damage compared with the damage we've seen in the economies of other countries."
Published by Globes [online], Israel business news - www.globes-online.com - on January 26, 2010
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